Cibc World Markets Corp Acquires 7,044 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Cibc World Markets Corp boosted its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 16.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 49,904 shares of the utilities provider’s stock after buying an additional 7,044 shares during the period. Cibc World Markets Corp’s holdings in WEC Energy Group were worth $4,693,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in WEC. Larson Financial Group LLC boosted its stake in WEC Energy Group by 3,828.6% during the fourth quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider’s stock valued at $26,000 after buying an additional 268 shares during the period. Human Investing LLC purchased a new stake in WEC Energy Group during the fourth quarter valued at about $52,000. Cullen Frost Bankers Inc. raised its position in WEC Energy Group by 140.8% during the fourth quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider’s stock valued at $55,000 after purchasing an additional 345 shares in the last quarter. Bank of Jackson Hole Trust purchased a new stake in WEC Energy Group during the fourth quarter valued at about $59,000. Finally, Kestra Investment Management LLC purchased a new stake in WEC Energy Group during the fourth quarter valued at about $61,000. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Down 0.2 %

WEC opened at $107.63 on Thursday. The company has a market cap of $33.99 billion, a P/E ratio of 22.28, a P/E/G ratio of 2.60 and a beta of 0.45. The business’s 50-day moving average price is $102.10 and its 200-day moving average price is $98.33. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 12 month low of $77.47 and a 12 month high of $110.19.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.06). WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The business had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the prior year, the firm earned $1.10 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, equities analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WEC. Wells Fargo & Company raised their price target on WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Bank of America upgraded WEC Energy Group from an “underperform” rating to a “neutral” rating and raised their price target for the company from $90.00 to $98.00 in a research report on Thursday, December 12th. KeyCorp raised their price target on WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. BMO Capital Markets raised their price target on WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a research report on Wednesday, February 5th. Finally, Scotiabank lifted their price objective on WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $101.88.

Insider Activity at WEC Energy Group

In related news, Director Gale E. Klappa sold 25,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total transaction of $2,715,500.00. Following the transaction, the director now owns 274,955 shares in the company, valued at $29,865,612.10. The trade was a 8.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ulice Payne, Jr. sold 1,150 shares of WEC Energy Group stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $104.17, for a total value of $119,795.50. Following the sale, the director now directly owns 21,951 shares in the company, valued at approximately $2,286,635.67. The trade was a 4.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

WEC Energy Group Profile

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. It operates through Wisconsin, Illinois, Other States, Electric Transmission, and Non-Utility Energy Infrastructure segments.